{"id":389951,"date":"2019-07-16T03:08:16","date_gmt":"2019-07-16T03:08:16","guid":{"rendered":"https:\/\/ktsl888.com\/?p=389951"},"modified":"2024-06-11T13:08:48","modified_gmt":"2024-06-11T13:08:48","slug":"ethereum-price-eth-remains-sell-despite-recent-bitcoin-recovery","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum-price-eth-remains-sell-despite-recent-bitcoin-recovery\/","title":{"rendered":"Ethereum Price (ETH) Remains Sell Despite Recent Bitcoin Recovery"},"content":{"rendered":"
Ethereum price is slowly recovering versus the US Dollar, along with bitcoin<\/a>. ETH price is likely to face a lot of hurdles near the $240 and $242 resistance levels.<\/em><\/p>\n Recently, we saw a sharp decline in bitcoin, Ethereum, ripple<\/a> and other major altcoins<\/a> against the US Dollar. ETH\/USD even broke the $240 and $230 support levels. The pair traded close to the $210 level and settled well below the 100 hourly simple moving average. A swing low was formed near the $212 level and the price recently started an upside correction.<\/p>\n More importantly, bitcoin price gained nearly 8%, sparking a recovery in ETH above the $220 resistance. Moreover, the price broke the 23.6% Fib retracement level of the last key drop from the $270 high to $212 low. It even traded above the $230 level, but struggled to clear the $235 resistance. At the outset, there is an ascending channel forming with resistance near $240 on the hourly chart of ETH\/USD.<\/p>\n The channel resistance is also near the 50% Fib retracement level of the last key drop from the $270 high to $212 low. Therefore, the price is likely to face a strong resistance near the $240 area. A successful close above the $240 resistance may push the price towards the $250 and $255 levels. The 100 hourly SMA is also positioned near the $255 level and a bearish trend line on the same chart to act as a resistance.<\/p>\n Conversely, if there is no upside break above the $240 resistance, the price may resume its slide. An immediate support is near the $225 level, below which it could test the $220 level. If there are more losses, the price could revisit the $212 swing low in the near term.<\/p>\nEthereum Price Analysis<\/h2>\n